Section 64(1)(iii) of the Act as it stood at the relevant time ...

Income Tax

August 7, 2014

Section 64(1)(iii) of the Act as it stood at the relevant time would be attracted and the AO rightly clubbed the interest earned by the minors on the amount lying that the partnership form while computing the total income of the assessee - HC

View Source

← Previous Next →

Section 64(1)(iii) of the Act as it stood at the relevant time ...

Income Tax

August 7, 2014

You may also like:

Clubbing of income - addition of portion of sales consideration related to wife and mother of assessee u/s 64(1) - Logically the sale consideration is to be distributed...

Clubbing of income of wife u/s 64 - It Tribunal held that since the income of the Assessee's wife had been accepted in her hands by the Department in scrutiny...

Clubbing of income - salary paid to the assessee’s wife - the payment made by the assessee to his wife would not qualify for the benefit of proviso to Section 64 (1)(ii) - HC

Penalty u/s 271 AAB or u/s 271 (1)(c) - concealment on income - as per clause (2) of section 271AAB, no penalty under the provisions of clause (c) of sub-section (1) of...

Trusts for the benefit of two minor children - provisions of section 64(1)(iii) invoked to include the income of trust into the income of assessee (Individual) - the...

Amendment of section 244A. - additional interest on refund - where a refund arising out of appeal effect is delayed beyond the time prescribed under subsection (5) of...

Interest u/s 234B - The term “assessed tax” has been defined in Explanation-1 of Section 234B (1). As per said Explanation-1 “assessed tax” means the tax on the total...

Reopening of assessment - AO was not aware about the death of the assessee at the relevant time when he issued notice under section 148 of the Act. Therefore, notice...

Refund of excess amount lying to the credit of electronic cash ledger of the petitioner - applicability of proviso to sub-section (1) of Section 54 or sub-section (1) of...

Clubbing of income of spouse - Non-allowing of set off of business loss - Going by the Explanation 3 read in conjunction with section 64(1)(iv) of the Act, the entire...

Non granting interest u/s 244A - AO is hereby directed to pay interest on the refund eligible in accordance with the proviso to Section 244A(1)(a) with regard to the...

Disallowance of bad debts as claimed u/s 36(1)(viia) - deduction claimed @10% of aggregate average advances - AO is directed to make relevant enquires and verifications...

Penalty u/s 271(1)(c) - proof of contravention of provisions provided under explanation 5A to section 271(1)(c) - On reference to the provisions of explanation 5A to...

Disallowance on account of Principal NPA - Time Barred Interest on over-due NPA loan accounts - To avoid the double deduction, the proviso to section 36(1)(vii ) was...

Disallowance u/s 37(1) expenses towards fees, subscription and payment of services for various clubs such as Karnataka Golf Association, Bangalore Club, the Karnataka...

Quick Updates: